Our vision is to become the ultimate online gifting companion in our core geographical markets
Our goal is for our brands to become synonymous with gifting in their respective markets. We have already evolved from the online leader in personalised greeting cards into a card-first gifting platform, and the next phase of our journey is to leverage data science capabilities to transition into a holistic online gifting companion, increasing our share of the gifting market and becoming the destination of choice for customers celebrating all the important occasions and events in their lives.
We believe that our high brand awareness, large and loyal customer base, and strong customer acquisition capabilities provide a strong foundation for achieving this objective and intend to leverage our powerful data and technology platform to continuously enhance our customer proposition, expand the active customer base, and increase customer lifetime value.
Capitalise on the structural shift to online with continued growth in the customer base
Continued customer acquisition, and in particular continuing to win customers migrating from the offline to online channel forms a key part of our growth strategy. There are estimated to be 53.8 million1 card purchasers in our core markets of the UK and the Netherlands according to OC&C, representing a large untapped pool of potential customers for us to win.
We will continue with our "card-first" customer acquisition strategy, leveraging our strong brand awareness and reputation to bring new customers onto our platforms. We believe that our differentiated gifting ecosystem and platforms foster a strong sense of customer loyalty and meaningfully support our customer retention efforts, with almost 89% of our revenue in the year ended 30 April 2023 derived from existing customers. We strive to ensure that we deliver an intuitive and up-to-date user experience and offer our customers the most convenient delivery options and industry leading cut-off times.
Drive growth through the existing customer base
We believe we have a significant opportunity to drive strong, continued growth from our existing customer base by increasing our share of the customer wallet and encouraging higher gift-attach rates.
In the year ended 30 April 2020, the Group’s active customers were each estimated to purchase, on average, 23 cards per annum1, of which just 3.3 were estimated to be purchased from us, according to OC&C and management estimates. We believe that through a combination of enhancing the product offering through its Global Design Platform, expansion of the gifting range, a focus on convenience through adoption of the app, and using data insights to personalise the customer journey, we will be able to increase the penetration of our customer base’s annual spending on occasion-based gifting.
Continuous enhancement of the technology platform and data science capabilities to deliver a personalised app-first customer journey
We believe that our strong data science and technology expertise, along with our platforms, are key points of differentiation which enable strong customer acquisition and retention. We are focused on building a unified technology platform and enhancing our data collection and data science capabilities to ensure we continue to deliver a seamless user experience across our markets.
We successfully transitioned Greetz onto the Moonpig technology platform in September 2022. As well as unlocking opportunities for strengthening retention and lifetime value of our Dutch customers, the completion of this project means that the majority of the Group’s technology resource is now focused on accelerating the development of new, customer-facing and revenue-generating functionality that both of our card-first brands can leverage. We believe this will increase the speed of innovation across the Group and drive operational efficiencies.
1. Source: OC&C, estimates - download the December 2020 Market Report here.